First Empire Mortgage - First Mortgage

First Mortgage Loans Explained

Your first mortgage - its importance, and its impact on your life

Personal loans.
Auto loans.
Student loans.

These are all considerable, but chances are good that all your previous expenses combined still fall well short of what you are staring at in the form of your first mortgage.

Simply stated, your first home mortgage represents the biggest investment of your financial life - past, present and future. First mortgage loans are more complicated than meets the eye and are laden with potential stumbling blocks. How can you guarantee success? What steps must you take in order to secure a great deal for yourself and your loved ones? Our advisors have specialized in the first residential mortgage field for many years. Learn from the best today.

Do so by making First Empire Mortgage your first mortgage choice for information, advice and unparalleled savings! Our network of lenders has helped thousands of clients make their first mortgage dreams come true. Come see how we can make you the latest in a long line of first time mortgage success stories!

Advice for the first mortgage applicant

If there were two things we could stress to you in this brief space, they would be to compare and contrast the various mortgage types out there before committing to anything, and to remember that there are myriad costs involved in this process that your loan does not factor in. Many first mortgage buyers move too quickly and fail to take these factors into account, only to get burned down the road. Again, a home mortgage is more complicated than it seems - and should be approached with caution.

Some necessary costs that are not included in the total amount of mortgage loans are:

Closing costs / realtor fees. These are often two percent of the total cost of your mortgage - several thousand dollars in most cases. A one-time expense, but something you should definitely consider. If one or two percent doesn't sound like a lot, remember that we are talking about hundreds of thousands of dollars.
Routine (and non-routine) maintenance. Yes, because when that pipe bursts or the roof needs fixing now, it's on you. Keeping up your place is a considerable cost. Your first mortgage entails budgeting for expenses like these in addition to the actual mortgage payments, especially if you want your property to appreciate fast!
Property and local taxes. Your home is assessed by your town of residence and you are taxed annually based on that amount. Rates vary from place to place (and should be researched), but generally you are looking at another few thousand. Keep this in mind when determining which town you wish to reside in, and how much you are willing to spend.

Making a home loan work starts with great mortgage rates, but if you aren't prepared for a whole lot more, they won't get the job done alone. For the Internet's leading advice and resources, contact First Empire Mortgage today using the free form above. We guarantee better service and greater savings than you will receive from other mortgage companies! Why wait another day?

Mortgage calculators - aiding your first mortgage effort

A great way to get started learning more about this complex process is my making use of our free mortgage calculators. This free and useful resource represents a chance to experiment with the many factors influencing your first mortgage loan. See how even the slightest change in your mortgage interest rate impacts your monthly payment plan, for example. See how a larger down payment could lower the overall interest paid on your mortgage loan.

Many factors combine to formulate the payment amounts that mortgage lenders quote you. Understanding them is the first step to making them work to your benefit! Before you get started, take advantage of this resource and get an idea of where you stand! Then make First Empire your first choice mortgage lender by completing the FREE, no-obligation form atop this page!